SHENANDOAH TELECOMMUNICATIONS CO/VA/ — Director's Dealing 2011

Feb 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)
CIK: 0000354963
Period of Report: 2011-02-21

Reporting Person: Fitzsimmons Tracy (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-21	Restricted Stock Units	$	A	1056	Acquired	2014-02-21	Common Stock (1056)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of common stock.

F2: The restricted stock unit vest 1/3 on each the first, second and third anniversary subject to the continuous service on the Board of Directors of the Company or one of its affiliates until the date of vesting. Vested shares will be delivered to the reporting person on the vesting date.